TexSTAR is an investment service created by Local Governments For Local Governments
Transferring funds for investment and achieving solid fiscal responsibility are critical challenges for local governments. TexSTAR offers Texas cities,
counties, school districts and other municipalities an investment option that provides security, liquidity and efficiency. This simplicity and convenience,
together with an understanding of the unique requirements of our clients, distinguishes TexSTAR as the premier investment service for Texas local governments.
TexSTAR has been tailored to provide investment solutions to any local government investment plan, whether as a liquidity component, for a more comprehensive
investment strategy or as a method to diversify an investment program primarily based on traditional banking services.
TexSTAR Administrators have a proven track record
TexSTAR is administered by HilltopSecurities and J.P. Investment Management Inc.
Together, these organizations bring to the TexSTAR program the powerful
partnership of two leaders in financial services with a proven and
noted track record in local government investment pool management.
HilltopSecurities is the leading financial advisor to Texas local governments and one of the top ranked advisory firms in the nation. For over
60 years, HilltopSecurities has assisted clients in managing the continual change of the financial landscape by providing unique investment banking services in
the areas of public, private and corporate banking. As a result of this experience, HilltopSecurities has gained a thorough understanding of the needs of Texas
local governments which fosters comfort and confidence in the oversight of their most precious financial assets.
HilltopSecurities has earned a position in the forefront of the financial service
industry by providing specialized solutions for state and local governments in the areas of investment management and reporting, arbitrage rebate compliance
and local government investment pool administration.
J.P. Morgan Asset Management is an asset management subsidiary of JPMorgan Chase & Co.,
a leading global financial services company and is one of the largest asset managers worldwide.
TexSTAR participants have access to Texas-based personalized customer service
TexSTAR participants have the option of dialing 1-800-TEX-STAR and speaking directly with personnel in Texas familiar with their account and their specific needs. The
Participant Services desk is composed of individuals with extensive experience in servicing State and local government entities. These individuals provide
personalized service and assistance with detailed information about the TexSTAR program as well as other related investment subjects.
TexSTAR provides local governments with the flexibility to meet their investment needs.
TexSTAR participants have daily access to their funds with no penalties. Interest is accrued daily and paid monthly. There is no minimum balance required and
no limit on the number of individual accounts. TexSTAR offers local governments the technology to carry out their duties with the greatest level of
efficiency. Participants can initiate wire transactions until 4:00 p.m. Central Time for same day settlement and ACH transactions until 4:00 p.m. Central Time
for next date settlement. In addition, transactions can be preloaded for settlement using the TexSTAR internet systems up to 10 business days in advance
24 hours a day.
Participants have the option of accessing TexSTAR by the following methods:
- Internet Transaction System
- Participant Services Representatives
Each of these transaction systems provide the ability to transfer funds quickly, access current balance(s) and prior month interest information and retrieve
special program announcements. Our leading edge computer-based product allow participants to print customized reports with the simple touch of a button. All
TexSTAR systems provide a quick and reliable method for transacting business with the program.
TexSTAR is conservatively managed in full compliance with the Texas Public Funds Investment Act
TexSTAR is a local government investment pool created under the Interlocal Cooperation Act specifically tailored to meet Texas state and local government
investment objectives of preservation of principal, daily liquidity and competitive yield. The fund is rated AAAm by Standard and Poor’s and maintains a
maturity of 60 days or less, with a maximum maturity of 13 months for any individual security. The fund seeks to maintain a constant dollar objective and
fulfills all requirements of the Texas PFIA for local government investment pools.
TexSTAR offers a wide variety of specialized products and services
TexSTAR does not merely provide an investment option – it provides an investment service. TexSTAR personnel fully understand that, in addition to basic
investment services, State and local governments have the need for many other investment-related services. TexSTAR, through HilltopSecurities and JP Morgan,
utilizes its extensive array of resources to offer a full compliment of specialized products and services complimenting the fundamental investment pool
product and adding unique value to the program for the ultimate benefit of the participants.
These features include:
- Direct Deposit Services
- Debt Service Payments Directly to Paying Agent
- TNRCC Escrow & Trustee Services
- TEA Payments & Attendance Credit Transfers
- Investment Policy Services
- Bond Proceeds Management
- Arbitrage Rebate Services